You don’t need a ton of resources to improve your monetization strategy, you can start with micro surveys that are easy to set up as well as quick for users to respond to. By continuously monitoring the perceived value of your product, you can validate your pricing strategy and discover more effective ways to package and promote your offerings.
There are three micro surveys in this series, they will help you effortlessly gather insights about which feature is most important for a certain package, how fair are the prices perceived, and do people understand your value metric and resonate with your packing structure.
Surveying users that have experienced the value of your product would ensure the survey context is clear. Identifying certain user events or product screens to trigger the micro survey would also enhance the relevancy and timing for higher quality user feedback. Here are some examples:
when they intend to upgrade their account
in your application after completing critical tasks
of a certain pricing package
Monitor the features ranking and price-fairness rating by the packages that the user is subscribed to. Keep an eye on the movement of the trend when you change the product, pricing, and/or messaging.
Analyze and categorize the open feedback into themes, track which theme is frequently appearing or exhibits a major impact potential. Form hypotheses and run experiments to verify the insights before your final decision.
Share survey results and highlight contextual feedback to discuss with your stakeholders. Understanding user needs and preferences is not an easy feat, especially when they may constantly change as the market evolves and your competition rises or falls. Coming up with new solutions is also a team effort as your customers see all the values of product functionality, UX, support, and other services as one entire package.
Pricing research is an act of investigation and validation of the market demand and supply. The goal of the research is to optimize the price range of a product or service that helps companies to meet their strategic goals, such as maximizing revenue or market share.
A pricing survey is a research method using surveys to obtain information that will drive your pricing and packaging decisions for your product or service. To send pricing surveys on your website or in-product of your SaaS application with Usersnap gives you high response rates and quality insights.
The outcome of pricing surveys help companies understand the perceived value from the market, the attributes impacting the purchase decision, the product-market fit, etc.
Here are many methods to use for evaluating and calculating your customers' willingness to pay for your products or services. It is recommended to use both qualitative methods, such as pricing surveys, and quantitative methods, such as pricing packaging experiments, to remove any biased data.
There are four key methods used for pricing research, and they are:
- Van Westendorp Price Sensitivity Meter (PSM)
- Gabor-Granger Technique
- Conjoint Analysis
- Brand-Price Trade-Off (BPTO)
A hyper productive way to match the users' bug report forms with your Jira tickets! This template collects crucial user inputs and leverages Usersnap's auto-capture capabilities to give you the most complete and actionable data. Enrich the Jira ticket template with annotated screenshots and videos that users can take with Usersnap's widgets.
Google's HEART framework consists of five key metrics for the different aspects of the user experience.
Understanding the Jobs-to-Be-Done is the cornerstone of successful product design and delivery.
Hear how customers feel about their effort required with your product.
Ask the right users at the right time to join you for a future research interview.
Confirm all testing scenarios internally in preparation for your beta release.
Make reporting issues faster for your users, with screenshots, a comment, and annotations.